New £2m scheme launched to help SMEs develop business recovery plans

The £2m COVID-19 Business & Financial Planning Grant will support micro and SME businesses to engage an experienced consultant to carry out a review and health check of the business and develop a strategic recovery plan with financial forecasts.

This is the third of our COVID-19 response schemes and opens for applications today.

The scheme will provide up to £8k to eligible businesses to contribute toward the cost of a consultant to undertake a business and financial review to plan for recovery.

The grant of a maximum of £8,000 can be used towards 80% of the eligible costs of an external consultant to:

• develop a financial and business plan
• help you assess your business model
• consider options to secure the future of the business
• identify how the business will recover and grow in the longer term.

The consultant you use must be on our approved list.

Who is it for?

To be eligible you must be a micro or SME business which is either an existing Invest NI client, or a business operating in one of the following Standard Industrial Classification (SIC) sectors. 

Your business must also have an annual turnover of at least £500k, and have experienced a 40% reduction in turnover during the period April-June 2020.

Please review the full details of the scheme and criteria before applying.

Please check if you are eligible before you apply, and read the Guidance Notes for details of what you will need to provide as part of your application.

To access the application form please contact our Business Support Team on 0800 181 4422. Lines are open Monday to Friday, 8.30am to 5.00pm.

The COVID-19 Business & Financial Planning Grant will be issued to eligible businesses on a first-come first-served basis.